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1900 W Hubbard St, Chicago,...

Updated Oct 29, 2024

OMP, LLC Acquires Property At 1900 W Hubbard St Chicago With Seller's Rep Nicholas Schaefer
SOLDRetail

OMP, LLC Acquires Property At 1900 W Hubbard St Chicago With Seller's Rep Nicholas Schaefer

1900 W Hubbard St, Chicago, IL, 60622

Building Size

Asset Type

Retail

Closing

Nov 22, 2023

About this deal

AI

The property involved in the transaction is located at 1900 W Hubbard St, Chicago, IL, 60622. It encompasses an 18,000-square-foot flex warehouse building situated on a 30,000-square-foot lot. This property features first-floor flex and warehouse space, along with a loft office on the second floor. Its location lies within the Kinzie Corridor on the West Side of Chicago.

Summary of transaction details:

  • Property Type: Flex Warehouse
  • Transaction Amount: Not disclosed
  • Address: 1900 W Hubbard St, Chicago, IL, 60622
  • Market: Chicago
  • Seller's Representative: Nicholas Schaefer
  • Buyer: OMP, LLC
  • Seller: Complete Lighting

Cawley Chicago played a significant role in this transaction, representing Complete Lighting as the seller. The team, which includes Zach Pruitt and Nicholas Schaefer, is engaged in the adaptive reuse and redevelopment sector. OMP, LLC plans to redevelop the site into new flex, office, and light retail property.

Players

Nicholas Schaefer

Broker

$4.9M

vol

3 deals

Broker

Chicago Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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